Vancouver, British Columbia--(Newsfile Corp. - August 28, 2023) - Telescope Innovations Corp. (CSE: TELI) (OTCQB: TELIF) ("Telescope" or the "Company"), a leading developer of advanced technologies and services for the global pharmaceutical and chemical industries, has been granted a Canadian patent, through its wholly-owned subsidiary, for a scalable manufacturing process to produce pharmaceutically-relevant indole compounds. Telescope developed this process in response to globally rising demands for pharmaceutical-grade therapeutics such as psilocybin and other indole-based precursors, analogs, and derivatives.

The patented chemical synthesis facilitates high-quality, scalable manufacturing because it reduces the number of synthetic steps than current methods, utilizes cost effective and readily available starting materials, and leverages chemical manufacturing techniques that are already standard practice in the pharmaceutical industry.

"This patent highlights our ability to address key challenges in process chemistry and manufacturing," said Jason Hein, the Company's CEO. "'Telescoping' is actually a technical term for reducing the number of isolation and workup steps in a chemical synthesis - hence our name. With this approach, we've patented a process that reduces manufacturing complexity and improves scalability for indole-based therapeutics."

Along with the synthetic route, Telescope also patented a set of new molecules that may become candidates for preclinical development. The discovery of both the synthetic route and new molecules was enabled by Telescope's unique suite of analytical and automation technologies, including the Direct Inject Liquid Chromatography (DILC^TM) platform for quantitative, online reaction monitoring.

"The DILC system is a crucial enabling technology to understand and develop better chemical processes. It was instrumental in obtaining our first Canadian patent, and we're excited to continue deploying it across our research programs."

About Telescope

Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. Our aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability.

On behalf of the Board,

Telescope Innovations Corp.

Jason Hein, Chief Executive Officer
E: jason@telescopeinn.com

Forward-Looking Information

Forward-looking information is based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.

Forward-looking statements in this document include expectations surrounding the preclinical development of new molecules patented and all other statements that are not statements of historical fact.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with the global COVID-19 pandemic; general economic conditions; adverse industry events; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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